Gtag:

A Daily Outlook: BTC/USD, Jan 12, 2022

Top 5 Headlines on Digital Currency:

  • A small river in the middle of coffee plantations, sugar cane fields and a forest provides energy to a hydroelectric power plant in Costa Rica that feeds hundreds of computers wired up to the cryptocurrency mining business – Investing.
  • Investor Bill Miller is bullish on Bitcoin (BTC) despite the cryptocurrency touching multi-month lows below $40,000 in early January 2022 – Investing.
  • Bitcoin Magazine’s YouTube channel was restored around three hours after being shut down, with the publication attributing the short ban to the YouTube algorithm flagging the word “Kazakhstan.”- Investing.
  • Indian financial services giant Axis Bank issued a financial contract between two domestic businesses by using a government-backed blockchain platform called Secured Logistics Document Exchange (SLDE) – Investing.
  • Cryptocurrency investment products and funds had net outflows last week totaling a record $207 million, a report from digital asset manager CoinShares showed on Monday, as prices continued their tumble in the first trading week of the year – Investing.

Technical View:

  • The BTC erases previous loss against U.S. dollar and remains well supported above $42,000 mark.
  • The pair made intraday high at $42,976 and low at $42,471 mark.
  • Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $43,100 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $40,500 on H1 chart requires for the downside rally.
SUPPORTS RESISTANCES
$40,500 $43,100
$40,120 $43,800
$39,760 $44,200
$39,300 $44,920
$39,000 $45,500

Take a look and do trade wisely!
Good Luck

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